Jol had Dembele available for the first two games against Norwich and Manchester United before he was sold to Spurs for £15m.
According to quotes in the Daily Star, Jol is now looking at survival instead of pushing for the European places.
"We beat Norwich five-nil in the first game of the season and I thought 'this is my best squad'," Jol is quoted as saying.
"I also knew Dimitar Berbatov was on the fringes and felt, if we add him, we can go for the top six. I really thought that.
"Then in a couple of days it all changed. I can't say I relished the situation at all. I was very frustrated. Now the aim is for us to get to forty points as quickly as possible."
Fulham currently sit ninth in the Premier League with three wins and three defeats in their opening six games.